BAe peels Orange slice

BAe peels Orange slice
Melanie Reynolds British Aerospace has at last sold most of its long-standing investment in the mobile phone business. All but five per cent of its 20 per cent stake in Orange, the UK’s third largest mobile phone operator, has been sold to city investors for ?764m. Earlier in the week BAe sold its stake in satellite communications company Orion Network Systems for ?88m, representing a ?33m pre-tax profit. Both sales represent the firms increasing focus on its defence business. Speculation will now start as to how the money will be spent to strengthen BAe’s core aircraft and defence businesses. See InsideView


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